I have noticed that many people are hesitant to consider bankruptcy as a viable option because they mistakenly believe that they would have to provide very personal details about themselves and their relationships and personal and financial choices, and mistakenly believe that they would have to give reasons for filing ...

Not that long ago, the values of many homes here in California Bay Area have dropped dramatically and the real estate bubble has burst. Or has it? The real estate market has been bouncing back in many parts of the Bay Area. A fairly typical situation was described by my …

If you have any any joint or co-signed loans or leases, typically your liability for them will be cleared when you file bankruptcy, if the debt is of type that can be discharged. For example, if you co-signed a student loan, your liability for the student loan will not be …

No. Prior to the changes in bankruptcy laws in 2005, the scope of the discharge of taxes was considerably broader. Discharge of debts in a Chapter 13 case was aptly called a “super” discharge. While you can still discharge some old tax liabilities, be sure that all of your returns …

Yes. You can repay unsecured income taxes at 0% interest through the Chapter 13 plan and avoid interest and penalties. Secured taxes (tax liens) can be repaid at low interest. Some of the old personal taxes can be wiped out completely. Past due property taxes, not just personal taxes, can …

In any Chapter 13 case, monthly payments are sent to a bankruptcy trustee over a period of three to five years. Some creditors usually get repaid fully, for example, IRS and your car lender if you are keeping the car, and some creditors get nothing or some percentage of what’s …

Leases and loans are treated differently in a bankruptcy case, so it’s important to know what type of contract you have. Make sure to keep and provide to your bankruptcy attorney, the lease agreement or the loan statement. So what are the differences? If you are leasing something, let’s say …